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Strategies & Market Trends : ahhaha's ahs

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To: ahhaha who wrote (954)	2/3/2001 1:24:09 AM
From: Bull RidaH	Read Replies (1) of 24758

<<The only conclusion is that last year FED was fighting psychology, not reality.>> This conclusion was confirmed at the Humphrey Hawkins question and answer session last week. During the Barney Frank drill & grill session, Frank pounded (no pun intended)the truth out Greenspan by hammering on him for blowing up the economy by raising rates too much. He asked Mr. G why he raised rates soo-oo--oo much without signs of dangerous inflation warnings... And Greenspan, obviously offended by the insinuation that he didn't know what he was doing, retorted that that the reason he raised rates so intensely was because the savings rate had dropped to unacceptable levels. Immediately the subject was changed and the implications of such an answer went straight over nearly everyone's head. Did your mouth drop when he gave his answer? It was like an atom bomb going off in my head.

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